US lawmakers slam Facebook’s ‘delusional’ Libra plan

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Facebook’s digital currency faced bipartisan attacks at a US hearing on July 16, as lawmakers said it would be “crazy” to let the company enter the financial sector.

Libra executive David Marcus spoke before the US Senate’s banking committee on Facebook’s plan to implement Libra, pledging it would not do so until regulatory issues were addressed.

“I expect that this will be the broadest, most extensive and most careful pre-launch oversight by regulators and central banks in fintech’s history,”

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